New Project by Signature Global in Gurgaon on 20 Acres, Targets 4,500 Crore Revenue: Real estate company Signature Global has partnered with a landowner to develop a housing project on a 20-acre plot in Gurugram, also known as Gurgaon. This project aims to bring in revenue of about Rs 4,500 crore and is an important part of Signature Global’s plan for growth. They’ve signed a Joint Development Agreement (JDA) for 20.32 acres of land situated in sector 71, along the southern peripheral road in Gurugram.
Signature Global in Gurgaon on 20 Acres
Signature Global Chairman Pradeep Aggarwal stated that the land in Gurugram could be turned into a residential area spanning 28.4 lakh square feet. He also said that this project has the potential to bring in sales of about Rs 4,500 crore. In simpler terms, this means that the land can be used to build a big residential community, and if the sales go as planned, it could earn a lot of money for Signature Global.
Because more people are looking for homes after the Covid pandemic, real estate developers are either buying land or partnering with landowners to expand their businesses. For instance, Signature Global recently made agreements with landowners for three different housing projects on a total of 21.38 acres of land. This means they’re teaming up with landowners to build housing complexes on these pieces of land. Together, these projects could create 32 lakh square feet of residential space. Basically, Signature Global is working with landowners to build new homes because more people are looking for places to live. Additionally, in the last quarter, Signature Global made a net profit of Rs 2.17 crore, which means they made a profit of Rs 2.17 crore after taking into account all their expenses and revenue during that time.
During the same time last year, the company had lost Rs 44.89 crore. However, in the third quarter of this fiscal year, their total income increased from Rs 191.78 crore to Rs 301.75 crore. This means that although the company had experienced a loss of Rs 44.89 crore during the same time last year, this year, their total income has significantly risen to Rs 301.75 crore for the third quarter of the fiscal year. In simpler terms, the company’s financial performance has improved compared to the previous year because they have reported higher total income in the current fiscal quarter.
Signature Global’s Sales Bookings Have Gone Up Since Being Listed
From April to December of this year, Signature Global’s net loss decreased to Rs 24.93 crore from Rs 71.36 crore in the same period last year. In the 2022-23 financial year, the company had a net loss of Rs 56.75 crore with a total income of Rs 1,585.87 crore. This means that during the first nine months of this year, Signature Global’s losses decreased compared to the same period last year. Last month, the company announced that it had made sales bookings of Rs 1,262.73 crore during the third quarter of this year, marking a 47 percent increase compared to the previous year
This shows that the company’s sales bookings have grown a lot over the past year. Signature Global became a publicly listed company on the stock exchanges in September 2023. In the same period last year, the company had made sales bookings of Rs 856.77 crore. This means that since becoming publicly listed, Signature Global has seen a significant increase in its sales bookings, which is a positive sign for its business growth.
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